News
Change - Announcement Of Appointment Of Chief Financial Officer
BackApr 15, 2019
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Apr 15, 2019 7:59 |
| Status | New |
| Announcement Sub Title | Appointment of Chief Financial Officer |
| Announcement Reference | SG190415OTHRQTH8 |
| Submitted By (Co./ Ind. Name) | Simon Garing |
| Designation | Chief Executive Officer and Executive Director |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Mr. Shane Hagan as Chief Financial Officer ("CFO") of Cromwell EREIT Management Pte. Ltd., the Manager of Cromwell European Real Estate Investment Trust ("CEREIT"). Sponsorship statement: Goldman Sachs (Singapore) Pte. and UBS AG, Singapore Branch were the joint issue managers for the initial public offering of CEREIT. DBS Bank Ltd., Goldman Sachs (Singapore) Pte., and UBS AG, Singapore Branch were the joint global coordinators for the initial public offering of CEREIT. DBS Bank Ltd., Goldman Sachs (Singapore) Pte., UBS AG, Singapore Branch, Daiwa Capital Markets Singapore Limited and CLSA Singapore Pte Ltd were the joint bookrunners and underwriters for the initial public offering of CEREIT. |
| Additional Details | |
| Date Of Appointment | 01/05/2019 |
| Name Of Person | Shane Hagan |
| Age | 52 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | Upon the recommendation of the Nominating and Remuneration Committee, the Board approved the promotion of Mr. Shane Hagan as CFO of Cromwell EREIT Management Pte. Ltd., after reviewing his experience, qualifications, capabilities, performance and contributions. |
| Whether appointment is executive, and if so, the area of responsibility | The appointment is executive. Mr. Shane Hagan will work with the Chief Executive Officer and the other members of the management team to formulate strategic plans for CEREIT in accordance with the Manager's stated investment strategy. He is also responsible for applying the appropriate capital management strategy, including tax and treasury matters, as well as finance and accounting matters, overseeing implementation of CEREIT's short and medium-term business plans and fund management activities. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Chief Financial Officer |
| Professional qualifications | Mr. Shane Hagan holds a Bachelor's Degree in Commerce and Administration from Victoria University. He is a Chartered Accountant under the Chartered Accountants Australia & New Zealand and a Capital Markets Licence Holder under the Monetary Authority of Singapore. |
| Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Conflict of interests (including any competing business) | None |
| Working experience and occupation(s) during the past 10 years | November 2018 - Present Head of Finance of Cromwell EREIT Management Pte. Ltd., Manager of CEREIT January 2016 - October 2018 Chief Operating Officer and CFO of ESR Funds Management (S) Limited November 2012 - October 2015 Chief Executive Officer of Manager of Soilbuild REIT March 2011 - November 2012 Chief Financial Officer of Manager of Mapletree Commercial Trust June 2010 - March 2011 Group Financial Controller of Mapletree Investments Pte Ltd May 2009 - June 2010 Chief Financial Officer of Manager of Lippo Mapletree Indonesia Retail Trust August 2007 - May 2009 Chief Financial Officer of Manager of APL Japan Trust |
| Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6)) | Yes |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | 17,300 Units in CEREIT |
| Other Principal Commitments* Including Directorships# *"Principal Commitments" has the same meaning as defined in the Code # These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8). |
|
| Past (for the last 5 years) | None |
| Present | None |
| (a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner? | No |
| (b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency? | Yes |
| If Yes, Please provide full details | Mr. Shane Hagan was appointed as CFO and Executive Director of APL Japan Trust Management Singapore Limited in 2007. This company was proposing to manage a SGX-ST listed Real Estate Investment Trust named APL Japan Trust which was slated to list on SGX-ST in December 2007. The REIT listing was postponed due to the global financial crisis and in May 2009 the company was liquidated by way of a creditors liquidation. |
| (c) Whether there is any unsatisfied judgment against him? | No |
| (d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose? | No |
| (e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? | No |
| (f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? | No |
| (g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust? | No |
| (h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? | No |
| (i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| (j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | No |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | No |
| (k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| Any prior experience as a director of an issuer listed on the Exchange? | No |
| If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange | Not applicable |
| Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable) | Not applicable |